Trade Date- 12/07/2018
In the last trading session, Nifty closed on a negative note at 10,948.30 levels, above its 20 day SMA and 10 Day SMA. Closing above 20-Day SMA indicates a strong closing and may require a quick action from buyers if Intraday resistance of 10,956 is broken during the day.
On a global front, U.S markets closed (on 12th July) on a slight negative note dropping an average of 0.50-0.80%. European markets closed with losses amounting to an average of side 1.25-1.60%.
Trading Strategy for Nifty
Intraday traders may follow the below mentioned levels-
Buy above 10,956 for targets of 10,970/10,997
Sell below 10,930 for targets of 10,905/10,885
Trading Strategy for Bank Nifty
Buy above 26,855 for targets of 26,880/26,937
Sell below 26,815 for targets of 26,800/26,730